In the week ending October 14, the advance figure for seasonally adjusted initial claims was 198,000, a decrease of 13,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 209,000 to 211,000. The 4-week moving average was 205,750, a decrease of 1,000 from the previous week's revised average. The previous week's average was revised up by 500 from 206,250 to 206,750. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending October 7, unchanged from the previous week's revised rate. The previous week's rate was revised up by 0.1 from 1.1 ... (full story)

Applications for unemployment benefits fell to their lowest level in eight months last week as businesses continue to retain workers despite elevated interest rates meant to cool the economy and labor market. Jobless claim applications fell by 13,000 to 198,000 for the week ending Oct. 14, the Labor Department reported Thursday. That's the fewest since January. Jobless claim applications are considered a proxy for layoffs. The four-week moving average of claims, which flattens out some of the week-to-week volatility, ticked down by 1,000 to 205,750. Overall, 1.73 million people were collecting unemployment benefits ... (full story)